b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 (Continued)Anewamortizationscheduleisagreed,and Loan receivables thelastrepaymentisdueinMay2025.TheoutstandingamountasofDecember31,2018 In accordance with the Power Purchase amountedtoUS$625,000(2017:US$265,782). AgreementdatedMarch1,2013(withlatestamendmentinApril2016)byandbetweenSPCSWithregardtothetermloan,thefinancial andtheGoS,SPCSconstructedatransmissioninstitutionsrequiredsecurityforStaatsolies linetothegridofEBS.Theaggregatedcostpaymentobligations.Thesecuritymainlyconsists ofUS$27,293wasdivestedinfavorofGoSinof the offshore receivables. Staatsolie also has2016,andaccordinglyderecognizedinthebookstocomplywithseveralaffirmativeandnegative ofSPCS.AsatDecember2018,US$16,196ofcovenants.AsatDecember31,2018Staatsolieis theprincipalbalancewasrepaidbyGoS.Thein compliance with the covenants. remainingbalanceistobeconsideredaslong-AsatDecember31,2018,unamortizeddebt termloanwithinterestrateof5.76%p.a.,payablearrangementfeesamountedtoUS$10,786(2017: inquarterlyinstallmentswithmaturitydateofUS$6,627).Theamortizationofdebtarrangement November2021.AsatDecember31,2018,thefeesfor2018amountedUS$2,229(2017:short-termportionofthisloanamountsto US$3,397)andispresentedunderfinancecost US$3,759(2017:US$8,368)andthelong-termintheconsolidatedstatementofprofitorloss.The portionamountstoUS$7,338(2017:US$11,007).amount expensed during the year for the previousTheloanreceivableisdisclosedinsection7,loanwasUS$6,627. related party disclosures.Loan SPCS Fair ValueInSeptember2013,SPCSenteredintoaseven- Theinitialrecognitionoftheloansandbondsisyear loan with Credit Suisse for the expansion ofatfairvaluewhilethesubsequentmeasurementthepowerplant.OnNovember17,2014,SPCS isatamortizedcost,assumingthecontractualrestated and amended it credit agreement frominterestrateequalstheeffectiveinterestrate.TheUS$74,000toUS$120,000withanapplicable localfinancialmarketconsistsoftraditionalbankinterestrateof5.50%plus3monthsLIBOR.Asat loans for business and is not capable to provide December31,2017,theoutstandingloanbalance forthecapitalneededforStaatsoliesgrowthamountedtoUS$80,064andtheunamortized strategy.StaatsoliesfinancestructurecomprisesdebtarrangementfeesamountedtoUS$1,776. financingbytheGoSandbespokecreditagreements by a consortium of international Thecollateralsforthisloanincluded100%of banks,whichisconsideredtheprincipalormostSPCSsfixedassets,allrightsandbenefitsgained advantageous market. inthePPWaswellasestablishmentofvarious Staatsolieusesvaluationtechniquesthatareoffshore collateral accounts. appropriate in the circumstances and for which OnMay25,2018,Staatsoliepaidoffthisdebtin sufficientdataareavailabletomeasurefairfullandtheunamortizeddebtarrangementfees value,maximizingtheusesofrelevantinputsandofUS$1,776wasexpensedtotheconsolidated minimizingtheuseofunobservableinputs.profitorlossunderFinancecosts. Allassetsandliabilities,forwhichfairvalueLoan from the Government of Suriname is measured or disclosed in the consolidated financialstatements,arecategorizedwithinthefairInNovember2016,Staatsolierefinancedthe valuehierarchy,describedasfollows,basedonsecurelong-termbankloanwithasecuredloan thelowestlevelinputthatissignificanttothefairfromtheGoS.TheloanfromtheGoSamountedto valuemeasurementasawhole:US$261,534andbearsinterestof9.25%semi- Level1-Quoted(unadjusted)marketpricesinannual interest payable in April and October andactive markets for identical assets or liabilities;requiredabulletrepaymentinNovember2026.AsatDecember31,2017,unamortizeddebt Level2-ValuationtechniquesforwhichthearrangementfeesamountedtoUS$3,122. lowestlevelinputthatissignificanttothefairvalue measurement is directly or indirectly OnMay25,2018,Staatsoliepaidoffthisdebtin observable;fullandtheunamortizeddebtarrangementfees Level3-ValuationtechniquesforwhichtheofUS$3,122wasexpensedtotheconsolidated lowestlevelinputthatissignificanttothefairprofitorlossunderFinancecosts. value measurement is unobservable.109'